Retail Trade
The question
To ask the Secretary of State for Business, Innovation, Science and Trade, what steps he is taking to support more businesses to expand into the high street.
Answered by Department for Business, Innovation, Science and Trade
The government’s Plan for Small Businesses includes measures to support high street businesses by addressing crime and antisocial behaviour, updating our licensing regime and targeting funding through our Pride in Place and High Street and Growth Incubator programmes.
Businesses on the high street are also benefitting from new tools to access finance, action on late payments and regulatory costs, greater digital adoption and easier access to business support through the Business Growth Service.
Government has also introduced permanently lower business rate multipliers for retail, hospitality and leisure properties worth nearly £1 billion per year that will benefit over 750,000 properties. We have also introduced a support package worth £4.3 billion to protect ratepayers seeing large overnight increases in bills due to revaluation.
Further action will be announced in a new High Streets Strategy later this year.
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